View full sizeFire destroyed the Thunderbird on the River Hotel in early September. Now, a new filing with the City of Portland shows the owner seeks to develop the property for retail.Benjamin Brink/The Oregonian

The hotel was destroyed in what police are calling a "suspicious" fire in September. Its owner is the Thunderbird Hotel, an entity with an address in Southeast Portland that's owned by Howard N. Dietrich Jr., according to state records. Dietrich did not return a call for comment Thursday.

One thing that is known is that it's not going to be a Walmart, even though that square footage is exactly what the retailer needs for its supercenters. Jennifer Spall, a spokeswoman for Wal-Mart Stores Inc., said the Arkansas-based retailer isn't involved with the project and remains focused on the construction of its new location at nearby Hayden Meadows.

Peterson of the city's permit department said that although development plans currently call for "one tenant" that doesn't mean the project won't ultimately feature multiple retailers.

Jerry Baysinger, the principal architect on the project, was out of his office Thursday and did not return a call for comment. His company's website lists a variety of retail projects, including Cornell Town Center Shops, a Hillsboro strip center with a FedEx Kinkos, Taco Del Mar and Starbucks, and Tigard Towne Square, which is anchored by Albertsons, Marshalls, Rite Aid and Dollar Tree. The firm also lists retailers Best Buy, Lowe's, Pier 1 and Whole Foods among its projects, along with restaurant chain McCormick & Schmick's and two local Lexus auto dealerships.

Still, Schmidt is dubious any development will last long at that site, which he said was identified as the construction staging area for the long-anticipated Columbia River Crossing.

"We are fairly confident that CRC will happen -- it's a huge tanker ship that you may influence one way or another, but we believe it will be built," he said of the controversial and costly bridge project. "Whatever's going in there, most likely will be leveled."